Bankruptcy process: Debt-laden Aircel likely to go in for management bid

Aircel executives said the company could offer value to big boys like Airtel or Jio as a low-end mobile services brand

Aircel, which moved the National Company Law Tribunal (NCLT) last week, is exploring many options to run the business as an ongoing concern till the resolution process takes off.
 
It is learnt that a bid by the management, backed by financial investors, is an alternative that the telco is looking at. It is also weighing the possibility of an interim financing deal approved by a proposed resolution professional to take care of the operational expenses till the bids come. Another choice before the company is to convince key promoter Anand Krishnamurty of Maxis to pay the interest overdue of